Rocket Internet [RKET:GR XETRA]is a tech empire and a unique company. If it is not criticised for its over-generalised and haphazard startup and strategy, its former employees will be up in arms with its business.
The duo of Camilo Paredes and Amanda Ernst both former executives of Rocket Internet’s FoodPanda, joined forces to start Caterspot, a food delivery joint. The new startup have just received USD 800 000 in funding to focus on the business market segment.
As opposed to FoodPanda catering for everyone, Caterspot was to basically focus on the business segment of the market in Singapore and Hong Kong, two major financial hubs in South East Asia.
As a business model, Caterspot only takes a minimum of 10 orders and it has over 150 caterers on its platform. The approach according to Paredres has reduced their churn rate.
Culture of Rebellion
Rocket Internet has always being in the news for many negatives. While the company’s mission to “to become the world’s largest Internet platform outside the United States and China” is very courageous, it has created a culture of internal ramblings, massive layoffs, staff work-outs and a frontal competition from its former executives floating similar companies to take on their former employer.
In Nigeria, Tunde Keyinde and Raphael Afaedor left Jumia Nigeria late 2013. While Tunde partnered with Ercin Eksin to start an eCommerce logistics company ACE Logistics, Raphael started groceries eCommerce site called SuperMart.ng.
Early this year, Marek Zmysłowski left Jovago, Rocket Internet’s hotel booking site to start HotelOga, a hotel booking software company. Marek revealed on his Twitter handle that Jovago wanted to sue him because of his new venture. Jovago did not confirm nor deny his claim.
Africa Internet Group, AIG Rocket Internet’s holding company in Nigeria had last month valued itself at USD 1 billion after it raised over USD 300 million from new investors.